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Car insurance

Car insurance for Tesla

Wondering how much you might pay for Tesla insurance with Youi? Wonder no more. Here you’ll find information about the types of cover we offer, the insurance costs you can expect, and some fun facts about Tesla that you might be surprised to learn.

Wondering how much you might pay for Tesla insurance with Youi? Wonder no more. Here you’ll find information about the types of cover we offer, the insurance costs you can expect, and some fun facts about Tesla that you might be surprised to learn.

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How much does Tesla insurance cost?

What it costs to insure a Tesla with Youi can vary depending on a range of factors, including your individual circumstances and the particular Tesla model and its specifications. If you’re looking for an insurance quote for your Tesla, Youi’s annual premium ranges below could give you an idea on what you might pay for our Comprehensive cover.

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Model

Tesla Model 3

ANNUAL PREMIUM RANGE:

$2,277 to $3,854

Insurance costs for the Tesla Model 3 are about 20% higher than the average annual premium for all Tesla models insured with Youi.

ANNUAL PREMIUM RANGE:

$1,988 to $3,571

The average annual insurance premium for the Tesla Model S is around 2% higher than the average for all other Tesla models we cover.

ANNUAL PREMIUM RANGE:

$1,694 to $3,081

Compared to other models of Teslas insured with Youi, the Toyota Model Y’s average annual insurance premium is about 10% lower.

Information about indicative premium ranges and comparisons

When we display the indicative Comprehensive premium range for a car make and model, or offer a comparison of how a model’s annual premium compares to Youi premiums for all models for that car brand, we adopt some important guidelines:

  • The information displayed is based on Youi internal data for Comprehensive policies sold for the make and model between 10 Nov 2023 and 10 May 2024.
  • To improve how useful our data is, we only calculate our average comparisons on models where Youi data is available on at least 10 sold Comprehensive policies for that model.
  • As you would expect, we get some higher or lower premiums based on different risk ratings, so the indicative range does not represent all Youi customers. 80% of applicable Comprehensive car premiums purchased by our customers fell within or below the indicative premium range shown.
  • Premiums and offers to insure are subject to rating & underwriting, and your own individual circumstances.

What’s the average cost for Tesla car insurance?

The average cost for Comprehensive cover with Youi can vary between different models of Tesla. Take a look to see the average annual premiums for the Tesla models we insure.

Average annual premium by model

Tesla Model Y
$2,478
 
Tesla Average
$2,753
 
Tesla Model S
$2,816
 
Tesla Model 3
$3,300
 

Choose your cover

Start a quote with us today to find out how much it will cost to insure your Tesla with Youi. Choose from a range of cover types including Comprehensive, Third Party Fire & Theft and Third Party Property Only.

Interesting facts about Tesla

Tesla is the world leader in electric cars

Out of all the companies that are wholly dedicated to producing electric vehicles, Tesla is the world’s largest, delivering 908,573 new vehicles in the first 3 quarters of 2022.1

Tesla’s ‘Sentry Mode’ deters thieves

One of the technologically-advanced features of some Tesla models is ‘Sentry Mode’, which automatically detects suspicious motion around the vehicle. If your Tesla detects a threat, it will react differently depending on how severe it determines the threat to be. You’ll also get an alert on your Tesla app.2

Tesla is named after the inventor Nikola Tesla

Nikola Tesla (1856-1943) was an American inventor who registered many patents and is known as the ‘father’ of the alternating current (AC). He is also credited with paving the way for much of the technology we use today.3

Some Teslas are self-parking

Tesla offers a software add-on called ‘Full Self-Driving’ (FSD), which can autonomously park the car. For anyone who’s ever had an ‘argument with a pole’ while parking their car, this special feature could definitely be worth the added cost.4

Out of all the companies that are wholly dedicated to producing electric vehicles, Tesla is the world’s largest, delivering 908,573 new vehicles in the first 3 quarters of 2022.1

One of the technologically-advanced features of some Tesla models is ‘Sentry Mode’, which automatically detects suspicious motion around the vehicle. If your Tesla detects a threat, it will react differently depending on how severe it determines the threat to be. You’ll also get an alert on your Tesla app.2

Nikola Tesla (1856-1943) was an American inventor who registered many patents and is known as the ‘father’ of the alternating current (AC). He is also credited with paving the way for much of the technology we use today.3

Tesla offers a software add-on called ‘Full Self-Driving’ (FSD), which can autonomously park the car. For anyone who’s ever had an ‘argument with a pole’ while parking their car, this special feature could definitely be worth the added cost.4

What might impact my Tesla insurance costs?

Your Tesla insurance premium may be affected by factors such as your age, location and driving history. To get the most detailed information about keeping your Tesla covered, start a quote with Youi today.

FAQs

Here you’ll find answers to some commonly-asked questions about Tesla insurance with Youi.

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If you insure with Youi, the average annual premium for a Tesla is $2,753. Bear in mind that your age, location and the model of Tesla you drive will also impact the cost of your insurance. Newer and more technologically advanced vehicles could be more expensive to repair and replace, which may lead to increased insurance costs.

Yes, at Youi, we offer insurance for Teslas in Australia, including the Telsa Model 3, Tesla Model S and Tesla Model Y.

If you choose Youi as your insurance provider, the cheapest average annual premium is $2,478 for the Tesla Model Y. To get a more precise cost, start a quote with us today.

Youi offers three options for car insurance including Comprehensive, Third Party Fire & Theft and Third Party Property Only. The best option for your particular situation will depend on a number of variables. Start a quote to get more detailed information about insuring your Tesla.

Third party insurance is compulsory in Australia – you need to have at least this level of insurance before you can legally drive your Tesla on Australian roads. It’s often a good idea to sort out your insurance as soon as possible after (or even before) purchasing your car to make sure that you have the right level of coverage when driving.

VIEW THE PDS CAR INSURANCE TERMINOLOGY

Guides 

The following articles will provide additional information on car insurance and answer some frequently-asked insurance questions.

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Disclaimers

1 Source: Capital.com
2 Source: Tesla
3 Source: Britannica
4 Source: Tesla